Fifteen Group Acquires FedEx Distribution Facility in Miami, FL

  Fifteen Group Acquires FedEx Distribution Facility in Miami, FL  Business Wire  MIAMI -- July 21, 2014  Miami-based Fifteen Group has completed the $19 million acquisition of 200 South Miami Avenue, a 6-story, 85,000-square-foot distribution and logistics facility 100% occupied by FedEx Corporation.  Constructed in 1999 as a central distribution hub for FedEx, the property is centrally located in Downtown Miami in an area of the urban core that is undergoing a complete revitalization. FedEx is in its 15^th year at the property.  “This was a unique opportunity to acquire an asset in a central location with a high-quality tenant and strong in-place yield,” said Mark Sanders, Co-Founder and Principal of Fifteen Group.  200 South Miami Avenue is situated in the heart of downtown Miami directly adjacent to the Third Street Metromover Station, and is flanked on the north and south by entrance and exit ramps for I-95. The 1.22-acre site is within walking distance to the highly anticipated Miami World Center, All Aboard Florida Grand Central Station, and Brickell CityCentre. In addition, it is located near excellent existing entertainment amenities such as the American Airlines Arena, Mary Brickell Village, and Bayfront Park.  “The acquisition provides an opportunity to own a dynamic asset with a Fortune 500-credit tenant in the heart of Downtown’s bustling core,” said Justin Toal, Chief Investment Officer of Fifteen Group.  About Fifteen Group  Fifteen Group is a family-owned real estate investment firm based in Miami, Florida. Fifteen Group's investment activities are opportunity-driven, value-added acquisition and development projects. Historically, Fifteen Group concentrated primarily on the multifamily sector, but has evolved to include expertise in the office, retail, mixed-use, industrial, and land development sectors. Currently the firm invests in all major real estate asset classes and in real estate secured debt. Fifteen Group (www.fifteengroup.com) also has offices in Los Angeles, CA.  Contact:  for Fifteen Group Steve Sugerman, 310-974-6680 steve@sugermangroup.com  
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